Is the Bitcoin bull market over?
Since the bull market in 2021, Bitcoin has been quiet for more than two years. It fell from a high of 68,000 to 15,000 before rebounding. So I am very sure that the bull market has not passed. On the contrary, the bull market has arrived.
I think one of the expectations for this rise is the Bitcoin mining halving in 24 years. Throughout the history of Bitcoin’s development, there will be a sharp rise every time there is a halving. The halving event has happened three times so far.
The first halving on November 28, 2012 reduced the mining reward to 25 BTC per block, and the price of Bitcoin on the market increased from 12 to 1217
During the second halving on July 9, 2016, the mining reward was reduced to 12.5 BTC per block. The market value of BTC was 647 at the time of the halving, and soared to 19,800 by December 17, 2017.
The third and most recent halving took place on May 11, 2020, and miners’ rewards dropped to 6.25 BTC. At this time, the price of BTC was 8787, which surged to 64507. That’s a staggering 634% increase from the pre-halving price.
The next halving node should be in April 2024. The specific date is difficult to predict because it depends on the block height. Since halvings occur every 210,000 blocks, the next halving is expected to occur in April 2024 when block height reaches 840,000.
Many people entered the industry not long ago, but they missed many opportunities because they did not understand bulls and bears.
2024, take advantage of it
At the same time, I wish everyone can make a fortune in the bull market.
